PSolve Hits Target For Niche Hedge Fund

Ian Allison

23 March 2006

PSolve Alternatives, the fund of hedge funds manager, has raised £24.3 million ($43 million) in subscriptions for shares at the closing of its placing and offer on 17 March 2006. The offer was made in respect of the PSolve Niche Opportunities Fund. PSolve Alternative Investments manages approximately $263 million in three Dublin-listed funds of hedge funds. Its Niche Opportunities Fund will begin trading on 28 March 2006. Panmure Gordon is acting as sponsor, broker and placing agent for the offer. A prospectus issued on 10 March indicated the intention to subscribe for 140,000 shares, which has subsequently been raised to 150,000.